Tata Power Gets LOA For 300 MW Hybrid Project from MSEDCL

Highlights :

  • TP Saurya, the firms fully owned subsidiary, had won the bid in July this year.
  • Hybrid projects are set to form an increasingly larger share of portfolios going ahead for developers.
Tata Power Gets LOA For 300 MW Hybrid Project from MSEDCL

TP Saurya Limited (TPSL), a wholly owned subsidiary of Tata Power, received the ‘Letter of Award’ (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for setting up of 300 MW hybrid power capacity. This project has been awarded through Tariff-based competitive bidding followed by e-Reverse auction. TP had won the bid along with Azure Power, which won 200 MW, at a price of Rs 2.62 per unit.

The project will be commissioned within 18 months from the date of PPA execution.

Speaking on the achievement, Dr. Praveer Sinha, CEO & MD, Tata Power said, “It is a proud moment for Tata Power to win this large scale Hybrid(Wind & Solar) power generation project. This will further promote the share of renewable power in the overall energy mix thus strengthening our position as the market leader in the renewable space. It will also encourage  other states to switch to green power to usher in an era of clean energy in the country.

The bid also marks the addition of wind capacity to the portfolio of both the winners, as the energy transition seeks to replace fossil fuel supplies, instead of just filling in new demand. Along with hybrid, expect storage bids also to be part of every major developers portfolio over the coming 2-3 years.

With this, the total renewable capacity of Tata Power will reach 4907MW with an installed capacity of 2953MW and 1954MW under  implementation.

The firm has been pushing hard to build on its early start in renewable energy, thanks to a legacy of a start over 32 years ago for Tata Power Solar when it was one of the pioneering solar manufacturers in the world and India’s largest specialized EPC player. Originally formed as a joint venture between Tata Power and British Petroleum Solar (BP Solar) with headquarters in Bengaluru, Tata Power Solar now operates independently as a wholly-owned subsidiary of Tata Power.

The firm has a manufacturing unit in Bangalore, with a production capacity of 580MW of modules and 530 MW of cells. It has a portfolio of more than 7GW of ground-mount utility-scale, over 750MW of rooftop and distributed generation projects across the country & installed over 55000 Solar Water Pumps in India till date. Plans have also been announced to expand its manufacturing capacity.

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